According to a Reuters report, Yahoo Inc (YHOO) is in advanced talks to exit its Japanese joint venture with telecommunications company and Japan’s No.3 mobile phone operator, SoftBank Corporation.
A deal to transfer Yahoo’s 35% stake, worth around $8 billion, in Yahoo Japan to Softbank, which already controls 42% of the unit, could come within a few weeks, people with knowledge of the discussions told Reuters.
If a deal is reached, the web portal is likely to turn its attention on its China assets, where it owns an estimated 40% stake in one of Mainland’s most prominent Internet companies Alibaba Group, the parent company of listed Alibaba.com.
By resolving its dysfunctional Asian partnerships — relations between Yahoo, the once mighty Internet company, Softbank and Alibaba.com have soured in recent years — and bring a cash infusion of as much as $8 billion, Yahoo will be able to fund its battle against search giant Google (GOOG) and Facebook.
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